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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 2 g) H- f& K( C( F
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.; S! H5 g' p& I& R% ]' d
, t6 M$ B( k% [0 { yThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta." V. H" }* W. }2 |' T) M$ v+ _9 Z/ J
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She moved here in December with dreams of being a homeowner, something she could never afford in Vancouver despite four years of saving her money for a down payment.
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But she didn't expect Edmonton's world of hot housing where the law of successful buying seems to consist of three elements: speed, cash and no conditions.
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! n, n, B3 Z5 w# R# K! O! y"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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/ b5 Y9 Q( k! n; KBut she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.! A3 r; S, Q% R" g/ A1 U' c
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.# m- ~7 j( @0 V4 b& q' r
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."& T3 {0 U6 R0 Z/ s3 `
8 J" D ^2 ?3 _/ nTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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3 W- h& P j; N6 L, |# `An average single dwelling unit in Edmonton sold for $316, 480 in August this year. An average townhouse, which includes the price of duplexes, sold for $262,327 in the same month. Last year in August an average townhouse sold for $175,922.
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0 i# T9 a3 P0 cThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.9 {6 J& a: O6 x( h
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"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."1 z, D8 `1 U. l* g8 u
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That may mean sellers are not as open to "conditions" on offers as they used to be -- such as a house inspection before the deal is finalized. |
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